Description
This study material is designed for degree, diploma, certificate, CPA, CIFA, and other professional students seeking to gain a thorough understanding of financial accounting. It serves as a comprehensive guide, featuring questions and answers to facilitate learning. The concepts are presented in clear, straightforward language to ensure accessibility for all learners, with practical applications to enhance comprehension.
General Objective
This study material aims to equip one with the knowledge, skills, and attitudes necessary to prepare financial statements for various entities.
Learning Outcomes
Upon completion, one should be able to:
- Prepare books of original entry and basic ledger accounts using the double entry system.
- Prepare basic financial statements for sole traders, partnerships, companies, manufacturing entities, and not-for-profit organizations.
- Comply with the regulatory framework governing the accounting field.
- Account for assets and liabilities.
- Analyze financial statements using ratios and statements of cash flows.
Course Coverage
This study material includes the following topics:
- Introduction to Accounting
- Recording Transactions
- Accounting for Assets and Liabilities
- Correction of Errors and Suspense Accounts
- Financial Statements of a Sole Trader
- Financial Statements of a Partnership
- Financial Statements of a Company
- Financial Statements of a Manufacturing Entity
- Financial Statements of a Not-for-Profit Organization
- Analyzing Financial Statements
- Introduction to Public Sector Accounting
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